
The Walt Disney Company is moving forward with layoffs that will impact hundreds of workers across its business, including its famed film studio and television outlets.
Starting Monday, Disney will issue pink slips to workers in a number of business units, including marketing, casting, corporate finance and production development. The company is not restructuring its operation as part of the layoffs. Most of the job losses will occur in Los Angeles, though teams in other parts of the world will also be affected.
The new layoffs come about two months after Disney let go of 200 workers at ABC News and its cable networks, including FX, National Geographic and Freeform. Last October, Disney laid off nearly 100 workers at its local ABC-owned television stations, and a few months before that, the company let go of 300 workers in human resources, finance, communications and its legal departments.
Two years ago, Disney said it would reorganize its business by laying off nearly 7,000 workers around the globe, a move that was completed in June 2023.
Like other entertainment firms, Disney has grappled with a wave of pay TV churn, higher production costs and the effects of the global pandemic on its business. While the company’s streaming products continue to experience customer and revenue gains, its traditional TV business have suffered the effects of cord-cutting in terms of lower distribution fees and advertising revenue over the past few years.
In May, Disney said it earned $23.62 billion from its various businesses during the first three months of the year. The figure was down nearly 14 percent on a sequential basis.